Sec. 8207.201. AUTHORITY TO ISSUE BONDS AND OTHER OBLIGATIONS. (a) The district may issue bonds or other obligations as provided by Chapters 49 and 54, Water Code, to finance the construction, maintenance, or operation of a project under Section 8207.101 or 8207.102.
(b) The district may not issue bonds or other obligations to finance projects authorized by Section 8207.102 unless the issuance is approved by a vote of a two-thirds majority of the district voters voting at an election called for that purpose.
(c) Bonds or other obligations issued or incurred to finance projects authorized by Section 8207.102 may not exceed one-fourth of the assessed value of the real property in the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 516 (S.B. 682), Sec. 1, eff. September 1, 2007.
Section: Previous 8207.001 8207.002 8207.003 8207.004 8207.021 8207.022 8207.023 8207.024 8207.025 8207.026 8207.051 8207.101 8207.102 8207.103 8207.151Last modified: September 28, 2016